Vitalik Buterin and Charles Hoskinson, two influential figures in the cryptocurrency industry, recently shared their thoughts on politicians who claim to be “pro-crypto”. In a blog post titled “Against Choosing Your Political Allegiances Based on Who is ‘Pro-Crypto'”, Buterin expressed his concerns about the increasing politicization of the industry. He pointed out that in the past couple of years, cryptocurrencies have become a significant topic in politics, with many jurisdictions considering bills to regulate the industry. Examples include the European Union’s creation of the Markets in Crypto Assets (MiCA) regulation, the UK’s efforts to regulate stablecoins, and the United States’ complex mix of legislation and attempted regulation by the SEC.
Buterin acknowledged that while some of these bills are reasonable, there are fears that governments may take extreme measures, such as treating all currencies as securities or banning self-hosted wallets. These fears have led to a growing push within the crypto space to become more politically active and support political parties and candidates based on their stance on cryptocurrencies.
However, Buterin also cautioned against the reductionist approach of solely supporting political candidates based on their “cryptopolitics”. He emphasized that politics is a complex game with many factors at play, and one should consider the broader implications of their words and actions.
In response to Buterin’s comments, Hoskinson argued for the importance of political support in achieving favorable policies for cryptocurrencies, given the current regulatory landscape. He stated that his primary goal has always been to keep the government completely out of cryptocurrencies. However, in cases where that is not possible, he believes it is crucial to vote for candidates who are supportive of the industry.
Hoskinson emphasized that politics is a game of cause and effect. If politicians understand that intimidating and harassing the cryptocurrency industry will result in lost elections, they will be less likely to do so. He urged people to vote for pro-crypto candidates and not to let personal distaste for specific individuals cloud their judgment.
It is important to note that the views expressed by Buterin and Hoskinson, as well as the information in this article, are for informational purposes only and should not be considered financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.